Lawrence, IN Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Lawrence, IN Housing Market Trends

With 49,462 people, 18,721 houses or apartments, and a median cost of homes of $203,829, Lawrence real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Lawrence, accounting for 64.23% of the city's housing units. Other types of housing that are prevalent in Lawrence include large apartment complexes or high rise apartments ( 15.46%), mobile homes or trailers ( 11.87%), and a few row houses and other attached homes ( 5.14%).

The most prevalent building size and type in Lawrence are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.86% owning and 35.14% renting.

There is a lot of housing in Lawrence built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Lawrence built between 2000 and later ( 24.43%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.53%). There's also some housing in Lawrence built before 1939 ( 3.92%).

Lawrence Home Appreciation Rates

Appreciation rates for homes in Lawrence have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 36.50%, which ranks in the top 50% nationwide. This equates to an annual average Lawrence house appreciation rate of 3.16%.

Appreciation rates are so strong in Lawrence that despite a nationwide downturn in the housing market, Lawrence real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lawrence appreciation rates continue to be some of the highest in America, at 6.57%, which is higher than appreciation rates in 77.58% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lawrence. Lawrence appreciation rates in the latest quarter were at 2.44%, which equates to an annual appreciation rate of 10.12%.

Relative to Indiana, our data show that Lawrence's latest annual appreciation rate is higher than 80% of the other cities and towns in Indiana.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Lawrence differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lawrence - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Lawrence real estate investment or home purchase decisions.

Average Home Values

 
info

Median Home Value:
$203,829

Lawrence, IN HOME PRICES

> $1,233,000
0.4%
0.4%
$925,001 - $1,233,000
0.4%
0.4%
$617,001 - $925,000
1.2%
1.2%
$493,001 - $617,000
1.6%
1.6%
$370,001 - $493,000
3.9%
3.9%
$247,001 - $370,000
13.8%
13.8%
$123,001 - $247,000
44.5%
44.5%
$62,001 - $123,000
19.7%
19.7%
$0 - $62,000
14.6%
14.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

High for IN

Value Relative To Nation

Number Of Homes And Apartments:
18,721

Lawrence Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
31.51% 1.31%
2
1
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,152 / per month

Homeownership Rate

Owners
64.9%
64.9%
Renters
35.1%
35.1%
Vacant
6.9%
6.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
24.4%
24.4%
1970 - 1999
49.1%
49.1%
1940 - 1969
22.5%
22.5%
1939 or Older
3.9%
3.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
64.2%
64.2%
Townhomes
5.1%
5.1%
Small Apt. Buildings
3.3%
3.3%
Apt. Complexes
15.5%
15.5%
Mobile Homes
11.9%
11.9%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.6%
0.6%
1 Bedroom
7.6%
7.6%
2 Bedrooms
24.3%
24.3%
3 Bedrooms
44.4%
44.4%
4 Bedrooms
19.6%
19.6%
5 or more bedrooms
3.6%
3.6%
0.0% 100.0%
% OF HOMES